The European stock markets closed lower in Thursday trading as bond yields and oil prices surged while investors monitored events in the Middle East and at the United Nations.
The Stoxx Europe declined 0.5%, Germany's DAX dropped 0.6%, France's CAC lost 0.5%, the FTSE 100 was off 0.2%, and the Swiss Market Index fell 0.2%.
Automotive stocks were subdued, including Stellantis and Renault in Paris, as well as Volkswagen, Porsche, and BMW in Frankfurt, and Volvo in Stockholm.
Real estate stocks were also tracking lower, including Vistry Group and Rightmove on the FTSE 100, Vonovia on the DAX, and Gecina in Paris.
In corporate news, Shell and LNG Canada Development are close to making the financial commitment to double a Canadian natural gas project's capacity as soon as next week, Bloomberg reported Wednesday, citing unnamed people familiar with the matter.
The expansion will require billions of dollars in investment, the report said. Shell, LNG Canada, and other backers of the project, including Petroliam Nasional, PetroChina, Mitsubishi, and Korea Gas, did not immediately reply to' request for comment.
Shares of Shell rose 1.7% in London.
Rio Tinto plans to expand its metals trading operations to include more products from third-party producers and financial derivatives, Bloomberg reported Thursday, citing people familiar with the miner's strategy.
The company is aiming for a step change in its current business, headed by Chief Commercial Officer Bold Baatar, and is intended to increase the profitability of Rio Tinto's existing assets rather than create a standalone trading business, according to the report.
Rio Tinto is considering opportunities in alumina and the North American copper market, including copper cathode and sulfuric acid, Bloomberg reported.
Rio Tinto did not immediately respond to a request for comment from.
Shares of the mining company fell 1.5% in London.
Ericsson and Saab have signed a memorandum of understanding to explore integrating terrestrial and space-based communications to support future defense, security and "societal resilience," Saab said Thursday.
The companies will also examine opportunities for collaboration as Saab expands its role as a system integrator in the space domain. As part of that effort, Saab also signed MoUs with SSC Space and OHB Sweden, it said.
Shares of Ericsson and Saab dropped 3.3% and 1.8% respecftively in Stockholm.
Mondelez International's Canadian unit, Mondelez Canada, said Thursday it invested in Area One Farms Fund V, a Canadian farmland investment strategy that partners with growth-oriented family farms.
Financial details weren't disclosed.
The investment, made through the Mondelez Sustainable Futures Impact Investment platform with support from investment firm Sagana, is intended to help Canadian farmers expand operations, strengthen the agricultural supply chain and advance regenerative agriculture practices, Mondelez Canada said.
Shares of Mondelez gained 1.2% in Frankfurt.
Stellantis' select future vehicles will be equipped with Stingray's streaming audio platform TuneIn, Stingray said Thursday.
TuneIn will provide Stellantis drivers access to more than 100,000 radio stations, along with music, sports, news and podcasts, Stingray said, adding the agreement expands its automotive presence and supports the rollout of branded in-vehicle audio services.
Shares of the automaker lost 3.3% in Paris.